House sale times can vary depending on the time of year, and the volatility of the housing market. They can also be slower or faster depending on the region involved.
The Reader’s Digest in the UK reported that one house sale went from accepting an offer to completion in just four hours. Clearly, this is an exceptionally short time and one that is unlikely to be equaled soon. Incidentally, the longest time in the UK to complete after an offer was accepted is a whopping 422 days.
Typically, house sales in America can take over two months from when the home goes on the market to the paperwork being completed and the keys handed over. Fortunately, selling a home in the states takes nowhere near the epic completion time mentioned above.
However, there are times when even two months or so is too long. While you may not expect to sell a home in 4 hours, you might have a strong wish to perhaps close within a couple of weeks.
Relationships break down, and debts can pile up. Often when these things happen, the home needs to be sold, and ideally quite quickly.
How can you complete a house sale as quickly as possible?
If you want to sell a home in the quickest way feasible then you will have to forego the traditional routes. A realtor will do their best to get your house on the market and sold quickly, but the process still typically takes around two months or more.
The two quickest options in the US today are property auctions and cash buyers. The latter often being property investors who buy homes outright with cash.
If you want to go to auction, you can simply find one online and list your property. There is no need to go to a traditional property auction house anymore. To sell a home for cash, simply search for house buyers in Texas or your particular locale.
How fast are property auctions and cash house buyers?
As you may have guessed, going through these routes won’t necessarily see you receiving the true worth of your home. You are choosing speed over a longer period of marketing, viewings, and potentially high bids.
However, the crux of the matter is not how much value you will see from your home, but the speed at which you can sell it. Therefore, you want to avoid mistakes in selling your home. Choosing the wrong route could lead to a longer sales period.
Understanding the sales process of auctions and cash buyers is crucial. While property auctions can be very quick, cash buyers will often beat them for speed.
A fast sale through a property auction can be made and closed within 4 weeks. This is exceptional compared to realtors. Yet, cash house buyers can often complete and transfer proceeds within 2 weeks.
If cash buyers are so quick, why do people still use realtors?
Using a realtor can be expensive. The commission alone on a house sale can take a large chunk of the proceeds. Then there are additional costs that are often not factored in such as making essential repairs or deciding to stage the home.
There are some great property styling tips to help sell a home quicker, but they cost money. As do seller’s inspections, renovations, photographers, additional marketing, and attorney fees.
Cash for houses type buyers usually does away with the need for any of this extra expense. However, there is one strong reason why the majority of people use realtors. They will nearly always get more money for your home than any other selling method.
There are advantages to a cash house sale
The main benefit of choosing a cash for houses buyer is that you get a speedy sale. There is no worry about chains or marketing periods. You don’t have to go through endless viewings by potential buyers. And you needn’t worry about costs.
According to the reports, the closing costs for a seller could reach 6% of the sale price. Occasionally, the seller will also make concessions to encourage a buyer to make an offer. These can sometimes include paying the buyer’s costs. Therefore, selling a home quickly through a realtor could incur a lot of costs, and deductions from the final sale price. None of this is a concern when going through a property investor.
The fastest way today to sell a home is to find a cash buyer. This could be an individual, but a specialist investment business is often quicker. This is because they will remove most of the red tape, and simplify the process. Property auction sales could match the speed of a cash buyer, but typically they will still take at least four weeks to complete.
The downside with any quick sale is you will likely lose money against the true value of the home. This is true with most selling methods. To make the quickest sale possible will often mean asking for less than the home is worth.